What is the Routing Number?

A routing number identifies the financial institution and the branch to which a payment item is directed.
Along with the account number, it is essential for delivering payments through the clearing system.
In Canada, there are two formats for routing numbers:

EFT Routing Number

An Electronic Fund Transactions (EFT) routing number is comprised of a three-digit financial institution number and a five-digit branch number,
preceded by a "leading zero".
Example : 0XXXYYYYY

0 : Leading zero

YYY : Institution Number

XXXXX : Branch Number

The electronic routing number is used for routing electronic payment items,
such as direct deposits and wire transfers.

MICR Number (Transit Number)

MICR Numbers or widely known as Transit Numbers are used in cheques processing.
It appears on the bottom of negotiable instruments such as checks identifying the financial institution on which it was drawn.
A paper (MICR) routing number is comprised of a three-digit financial institution number and a five-digit branch number.
It is encoded using magnetic ink on paper payment items (such as cheques).
Example : XXXXX-YYY

XXXXX : Branch Number

YYY : Institution Number

MICR stands for Magnetic Ink Character Recognition.

Disclaimer: Please confirm this information with your bank before initiating any transaction. We are not liable for any errors or omissions in our information.